Private house building boom boosts construction industry

A 12% jump in the number of private housing schemes being built in the UK helped construction activity increase 6% in the 12 months to March.

And the underlying value of detailed planning approvals secured for private housing schemes has risen by 15% 12 months to January, according to industry analyst Glenigan.

Private sector activity was also helped by a 5% rise in non-residential construction, but public sector building continues to stagnate. And civil engineering projects increased by just 3%, after falling previously.

“A tightening of lending procedures by the Bank of England led to a cooling in mortgage lending throughout 2014,” said Glenigan’s economics director Allan Wilén.

“However, approvals picked up by 2% between November and December – a sign that the reforms have bedded in and mortgage credit may begin to ease once more over the coming months.”

Paul Tinton is the founder and CEO of Proskips, he appeared on Dragons Den in 2008 and asked for 200k for a 20% stake. The skip hire company has gone on to launch www.proskips.co.uk which is a nationwide skip hire business.